AERGO Blockchain & Crypto AMA 30TH MAY.png

Introduction
👋 Welcome to today’s AMA session with Phil and Hun.

Phil (CEO) and Hun (CTO) last saw all of you about two months ago, live on YouTube for a video AMA. Now, seeing as we’ve been pretty busy and have pumped out a lot of updates, they’ve come again to engage with all of you and answer any questions you may have. 🔥

This AMA is mainly meant to answer questions about that may have come up after you read the comprehensive, transparent Quarterly Project Update we released for Q2 of 2019. Most of you have likely read it by now.

The QPU goes in-depth on what happened with Aergo over the past quarter and what you should expect moving-forward. It also gives a detailed financial update and token metric breakdown, so if you have any questions in that area you should refer to the QPU.

We’ve made good progress in onboarding the Aergo mainnet’s initial block producer partners. We are holding an event in Seoul, South Korea, on June 10, 2019, called our ‘Network Participant Event’, where we conduct an educational workshop with our existing and potential block producer partners. These partners will be guided, on the ground, through the next steps on the block producer program, being whichever next steps are most relevant to these partners. The event will look to educate our existing and new partners alike. We look forward to updating you all on how things progress!

Aside from that, make sure you check out some of the more recent news items.

• MAY 10: Aergo Connect browser wallet released for testing

• MAY 17: Q2–2019 QPU goes live

• MAY 21: Aergo Ecosystem blog series

• MAY 22: QPU infographic competition. Deadline June 5

• MAY 24: Global Aergo Knights program

• MAY 28: Recording of Phil’s pitch at Deconomy was published

• MAY 30: Hyundai AutoEver to anchor its blockchain to Aergo

We ask that everyone is respectful during this AMA and ask their questions in a calm and collected manner. We will first conduct our live AMA for the duration of one hour. Then, we will answer the pre-submitted questions sent here using #AMA.

Please give adequate time for your question to be answered as typing answers can take some time. I would like to remind everyone that some questions relating to speculation and other sensitive matters cannot be addressed here. Questions that we are unable to answer will simply be ignored, however will be as open as we possible can. We urge everyone to read our QPU (linked at the start of this message) for information on financials and token metrics.

Without further ado, let’s all welcome @philzamani and @hunyoungpark to the chat.

The AMA begins now and lasts for one hour.

Start of AMA

Q1. When we can see full mainet staking ?

Phil: When the program is ready, later this year.

Hun: We will launch 1-way swap soon, and will launch 2-way swap later.

Q2. Can you elaborate a bit more on how the on-boarding of Hyundai AutoEver will go, are there any targets set by them and how do they measure success?

Hun: In Hyundai’s used car business, we are designing smart contract, maybe we can use it as auction system, or history management. and block hashes will be anchored in the mainnet.

Phil: The program is going very well — we do not disclose customers business targets as these are private and often commercially sensitive — please read their announcement for more

Q3. When will you go public with your partners?

Phil: We are meeting manny of these partners on June 10th — We will announce these in due course.

Q4. I hear some news abhout kakao is going to bulid a blockchian platform in Korea ， any comments on that ?

Hun: Kakao is kakao, they are good at service. but we are strong at enterprise business

Q5. Is there a small fee when sending native AERGO tokens to other wallet or it is free?

Kyle: Hey Fellowsheep, the answer to this is that there is a fee associated with all transactions, including transfers between wallets.

Phil: We have not yet finalised our governance model — We need to combine a careful balance of being KYC compliant but also easy to use — We will share details when this conundrum has been resolved — see Huns simpler answer below!

Hun: No, anyone who stake their tokens can be a voter. It’s basic rule for public chain.

Q6. What conferences are you guys eyeing to attend soon?

Phil: In general we are focusing on customer attending industry events — and less crypto events as we now are fully engaged with recruiting and working with Clients — IT partners — Node participants and of course Developers.

Q7. Is it true that Aergo will never go to Binance because of the lawsuit between Binance and Sequoia?

Phil: We don’t comment on our exchange listing plans — we also ignore all such rumours that are blatantly wrong.

Q8. When will the connect browser wallet become available for use?

Kyle: Hey Patrick, the answer here is that the Connect wallet is already available to use, even for mainnet. However, you cannot obtain native coins yet. Once we launch the token swap (1-way), you’ll be able to use the Connect wallet for mainnet coins.

Q9. In the last QPU we’ve gotten a taste of how market expansion/penetration will be handled in China. Could you elaborate more on the strategy in Europe or perhaps other regions?

Phil: We are focusing on three major regions — South Korea, China and Europe — but this does NOT mean we ignore other markets — for example we are working with a major Middle Eastern country who is exploring the use of Aergo in many local government and public service related use cases — our client facing strategy is threefold:

Find clients who understand the value of a hybrid blockchain and have a distinct idea or business need.
Work with them to qualify and shape each opportunity
Deliver this first system within 3–6 months (and potentially work with a local IT system integrator so we can win and deliver more projects in that area)

Q10. Could you please explain how does your Smart Oracles work?

Hun: We can think 2 kinds of smart oracles

Recording off-chain information correctly in public chain
Uploading legacy data to the private blockchain.

We are more focusing on 2). So want to make general middleware. In case of 1), we need detailed design for each domain case.

Q11. In the QPU report, it stated that the three phases of aergo which includes;

“Build” in 2018 being the 1st phase. “Deploy” as the 2nd phase.

“Business execution” as the 3rd phase which focuses on business agreements with partners. Does this include Hyundai AutoEver?

Phil: Yes all of our work now is focused on Phase 3 Execution.

Q12. Hyundai just joined the aergo mainnet, does that mean they have to buy and hold Aergo token first, then aergo and blocko will provide the service?

Hun: No, Hyundai can use tech support service of Blocko, and don’t need to ‘buy’ the tokens, but will ‘use’ it. Makes sense?

Q13. Is the governance model planned, 1 AERGO = 1 vote or some other like quadratic voting?

Kyle: In general, it won’t necessarily be 1 = 1, but more sophisticated to encourage a stronger ecosystem.

Q14. So what are the privileges of being an AERGO Knight?

Rexford: If you’re an Aergo Knight, you get to be part of the core group of supporters growing the aergo ecosystem. Essentially, you’ll gain early insights on core developments, work with our core team, lead our community efforts, and be compensated for your efforts and further for bigger initiatives you take on.

The three categories primarily being:

Crypto Ambassadors
Developer Enablers
Enterprise Champions

It’s still up for now, our applications are piling up so send it in early :) You may apply here.

Q15. If customers ask for a business case / ROI for implementing blockchain what are common aspects that you address to showcase the true value of the Aergo solution?

Phil: This varies by customer and use case — often ROI is NOT the first thing clients we work with look at.. It’s things like:

Can this solution add value to my business — if yes, where, and how?
Lets build and test this first
Now that i get it lets deploy it at scale to see if we can either be more efficient and use our existing IT and data to win more business (ROI) or be more efficient (ROCE).

The latest Hyundai deal covers both examples nicely (we have worked with them on multiple engagements — starting with PoC’s and lately full production deployments)

Q16. Have you considered using something similar to the LTO bridge toll model?

Kyle: Their bridge toll model is one where private sale investors must pay a fee to enter the ERC-20 token format and trade the token. We didn’t adopt this kind of a model. However, we will indeed have a dual token mechanism where the mainnet coins and ERC-20 tokens exist in unison.

Q17. What is Samsung’s relationship to Blocko?

Kyle: Samsung is both an investor (in multiple financing rounds!) to Blocko and also a major client. See this answer from Enzo for more.

Q18. When can I know the name of block producers? Why don’t you reveal them in your latest QPU?

Phil: When we and they are ready to talk about this publicly — please get familiar with our commercial and business code of practise — we don’t announce anything without customer or partner consent

Kyle: Also, I’ll add that the mainnet is being incubated at the moment. We go over this multiple times in our QPU and medium articles, you should really read them! See pinned message for the QPU

Q19. Are you planning to interact with other large companies, such as LG?

Phil: Who said we are not already? 😊

Q20. So i am trying to learn more about Aergoconnect, what web3 applications or tools can you share on what’s planned there?

Hun: Aergo Connect is a wallet, If you want SDK like web3, you can use heraj(java), herajs(javascript), herapy(python).

Q21. You mentioned on Twitter a form of encryption called Homomorphic Encryption. Please explain to us how it is superior to established encryption methods and where do you plan to apply it

Kyle: Homomorphic encryption is a form of encryption that allows computation on ciphertexts, generating an encrypted result which, when decrypted, matches the result of the operations as if they had been performed on the plaintext.

What this means is businesses in the future will be able to share their data with third-parties who may need the data to train their machine learning models, without ever exposing the contents of the data or even the model itself. So, for example, if a drug manufacturer requires patient data to train a deep learning algorithm, they can purchase data they need from the health service provider. The health service provider will share this data once it is homomorphically encrypted into ciphertext. Homomorphic encryption will enable the data to be consumed by the AI algorithm without decrypting the data and therefore exposing its contents.

Consequently the application of this cryptographic technique over other methods is very valuable, specifically for privacy-preserving data sharing among distrusting parties. We’re working with some partners to combine our hybrid blockchain architecture with homomorphic encryption.

Hun: Thanks Kyle, Yes Homomorphic Encryption is very interesting tech item, We are studying it for the cases like ‘anonymity voting’ or ‘medical information exchange’.

Q22. You mentioned clients ask about being quantum resistant do you have any update with aergo in relation to this?

Sorry we cannot share any details yet as this is a long term (confidential) project with a leading research centre — We will start talking about why we are doing this soon and to set the scene on this advanced techniques to protect private — business — government level data 🙂

There's a total of 37 Questions that were answered during this AMA, so if you like to read more head over to Aergo Official's Medium Blog

Aergo AMA Session - QPU Release for Q2 2019 Review with Hun Park and Phil Zamani